Park Hotels & Resorts Inc (NYSE:PK) – Equities research analysts at Boenning Scattergood decreased their Q3 2018 EPS estimates for shares of Park Hotels & Resorts in a research note issued on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the financial services provider will earn $0.64 per share for the quarter, down from their previous estimate of $0.65. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Park Hotels & Resorts’ Q1 2019 earnings at $0.71 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.69 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.85 EPS.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. SunTrust Banks raised Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, Nomura upped their target price on Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $36.08.
Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Park Hotels & Resorts had a return on equity of 6.75% and a net margin of 15.26%. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $676.76 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in PK. Cbre Clarion Securities LLC grew its stake in Park Hotels & Resorts by 883.4% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock valued at $162,760,000 after purchasing an additional 5,423,181 shares during the period. Southeastern Asset Management Inc. TN bought a new position in shares of Park Hotels & Resorts during the 2nd quarter worth $110,520,000. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 57.5% during the 2nd quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock worth $262,679,000 after acquiring an additional 3,558,810 shares during the period. Vanguard Group Inc. grew its stake in shares of Park Hotels & Resorts by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock worth $608,693,000 after acquiring an additional 2,963,035 shares during the period. Finally, State Street Corp grew its stake in shares of Park Hotels & Resorts by 137.0% during the 2nd quarter. State Street Corp now owns 3,664,272 shares of the financial services provider’s stock worth $98,791,000 after acquiring an additional 2,118,313 shares during the period. Institutional investors and hedge funds own 99.13% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.20 annualized dividend and a yield of 7.56%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.43. Park Hotels & Resorts’s dividend payout ratio is 18.32%.
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Park Hotels & Resorts Company Profile
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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